The experienced boss has told his side to avoid complacency and forget about a mid-table finish, as he believes surviving teams may need more than 40 points to avoid the drop
Hodgson has had experience of relegation battles in the past, as he kept Fulham up against all odds in the 2007-8 season.
And despite being unbeaten in five matches, he has told his side not to get carried away with their run of good form.
He told reporters: “I think the team is showing confidence, and I think they rightly show confidence because recently we've done quite well.
“You've got to be very careful because it can so quickly turn around, so I think we should enjoy what's gone on but we shouldn't in any way allow it to anaesthetise us with the matches that we've got ahead.
“We've got seven to play and they're all going to be very, very tough fixtures.
“It's better going into the game with a bit of confidence, but unfortunately that doesn't necessarily help you to win it.
“What helps you to win it is your performance on the day.”
Any thoughts of a top-half finish have been immediately quashed by Hodgson, who added: “I've never even given it a thought.
“What, for me, needs to be out of the question is West Bromwich Albion being relegated. Everything else is of little interest.”
The Baggies manager believes that this season a record number of points could be needed to avoid the drop.
“In most years, a target of 40 points is normally good enough,” he said.
“But it's not a rule, it's not written in stone and if to stay in the league you need more points than you'd better get them.
“This could definitely be a year, I think, where more than 40 points will be necessary because there are so many teams between 32 and 38 at the moment.
“With seven games left to play, you could see many of those teams getting beyond the 40 mark.”